Mortgage Refinancing: 3rd Quarter Refinancing Saves Borrowers $3 Billion
Freddie Mac released a report showing one half of borrowers who refinanced their conventinal mortgage in the 3rd quarter lowered the mortgage rate they were paying by 1.1 percent on average.
The collective dollar amount saved in the first 12 months of interest payment expenses by the home owners who refinanced their mortgages was $3 billion.
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